Practice Company began its operations on January 1, 2013. During its first year, the company engaged in the following transactions: Issued common stock for $10,000 cash. Borrowed $4,000 cash from a local bank. Purchased $500 of supplies on account. Recognized revenue of $8,000 for services provided on account. Paid $3,900 cash for salaries expense. Paid $2,400 cash in advance for a one-year lease to rent office space. Purchased $3,500 of office furniture on account. Received $1,800 cash for services to be performed in the future. Collected $3,000 cash from accounts receivable. Paid $1,200 cash for utilities. Paid dividends of $1,000 cash to the stockholders. Invested $2,000 cash in a two-year certificate of deposit. Repaid $1,600 principal on the bank loan described in Event No. 2. Purchased land for $2,700 cash. Adjusting Entries: Recognized $400 of accrued interest expense on the bank loan described in Event No. 2. The contract described in Event No. 8 was initiated on September 1^st. It is a nine-month service contract. Record the appropriate adjusting entry. Counted supplies on hand at December 31^st. Determined the company had $100 of supplies remaining. Recognized accrued salary expense of $300. Recognized accrued interest revenue on the CD purchased in Event No. 12. The CD was purchased on July 1^st and has a 5% interest rate. Recognized depreciation expense on the office furniture purchased in Event No. 7. The office furniture was purchased on January 1^st. It has a ten-year life and no salvage value. The company uses straight-line depreciation. Recognized rent expense for the lease in Event No. 6. The lease agreement began on October 1^st. Required: Analyze the transactions above using the accounting cycle packet. A. Prepare the journal entries B. Post the journal entries to the T-accounts C. Prepare an unadjusted trial balance (optional) D. Prepare the adjusting entries E. Post the adjusting entries to the T-accounts F. Prepare an adjusted trial balance G. Use the adjusted trial balance to prepare closing entries and financial statements H. Prepare a post-closing trial balance (optional) Create a Classified Balance Sheet, Multi-Step Income Statement, Statement of Ownership Equity, and Statement of Cash Flows